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By Alex Ellis

When sending money overseas you must be aware of the financial risk involved in any transaction regardless of how large or small you may consider them to be. Even a simple transaction of £1000 can cost you as much as £50 including transaction fees and the cost of a tourist level exchange rate. Of course when converting larger amounts this potential cost increases rather dramatically. By employing the services of a currency broker you can ensure that you are well informed and made aware of any potential impacting factors and how these may affect your currency exchange.

Currently the Euro debt crisis has caused large amounts of uncertainty for the single currency and this has allowed the pound to regain some lost ground and trade at the highest levels seen for nine weeks. Today at 10:00 GMT the Euro zone unemployment rate is released and if this shows unemployment to have risen then I believe we could see further strength for the pound.

If you have an upcoming currency exchange involving buying Euros and selling sterling then use Currency Line to contact an experienced currency broker and ensure you benefit from this.

By Alex Ellis

As I am sure you are aware, Ireland has been one of the most talked about economies in recent times as it became apparent that their economy was insolvent. Although a bailout has been agreed there is now the added fear of contagion to other economies within the Eurozone – Portugal, Spain and Italy are the most heavily mentioned followed closely by Belgium.

Belgium is the newest country to be mentioned alongside the typical PIIGS and this is because as the cost of their debt is 100% of their annual income. I believe that over the next few weeks we will see more and more releases that will show just how sluggish the recovery has been for the Euro zone. In my experience the Euro zone will quite often keep their cards very close to their chest whereas the UK and US are very upfront about the state of their economies.

If you have an upcoming currency purchase then use Curreny Line to contact an experienced currency broker and ensure that you minimise your risk when committing to any form of currency exchange.

By Alex Ellis

Sterling exchange rates have hit an 8 week high against the Euro as Ireland’s woes continue to weigh on the single currency. The situation in Ireland has caused uncertainty to be raised about other countries within the Eurozone, especially Spain and Portugal. Spain’s unemployment currently stands at over 20% and this shows just how large the impact of the recession has been, all those out of jobs will be claiming money off the state and will not be paying tax, in the longer term this will prove very costly for the Spanish government.

It was in the EU’s interest to help Ireland because if they were allowed to falter then the single currency could have been doomed as a result. Economic factors are one of the strongest impacting factors on exchange rates and this is apparrent in the movement we have seen recently. Every week there is further economic releases for countries all over the world and all of these have the potential to make an overseas property purchase or any form of currency transfer much more costly than it needs to be.

For any currency requirement use Currency Line to contact an experienced currency broker who can help to guide you through the process and ensure you minimise your risk.

By Alex Ellis

Sterling exchange rates have rallied this morning both in anticipation and following the release of the UK GDP revision this morning. The market seems to have reacted in favour of sterling in the aftermath of this release and therefore if you are looking at selling sterling for a currency purchase now is a very good time.

There is the possibility that once the fears of Ireland’s debts are reduced that we may see the Euro regain some strength, and rates push back downwards. However in any event the market is extremely volatile at present and has been since the recession first hit. Therefore any factors regardless of how small they may appear can affect currency exchange rates making any currency purchase much more risky than it would be usually.

In order to combat this employ the services of an experienced currency broker who can help to guide you through the process and ensure that you minimise our risk and maximise your savings.

By Alex Ellis

It was announced yesterday that a potential £90 billion bailout for Ireland is on the cards as the Irish government looks like it could collapse. This would be disastrous for not only the Euro zone but also for the EU as well. Even the UK has realised the damaging impact of Ireland’s woes are we ourselves have offered Ireland a loan of £7 Billion to help them combat their debt problems, this is owing to the fact that a large proportion of the UK’s exports are with Ireland and our banks are exposed by £140 billion to Ireland.

This morning sterling has recovered slightly against the Euro although these gains seem to be gradually falling as the day progresses. If you are looking at buying a property overseas then as the pound falls, the cost of your conversion increases as well, ultimately making your property much more expensive.

When conducting a currency purchase it is sensible to contact an experienced currency broker to ensure you safe guard your position and minimise your risk, as those that don’t are simply gambling with thousands.